Williams Partners Applies For Gateway Project's FERC Permit

Williams Partners L.P. (NYSE:WPZ) declared that Transcontinental Gas Pipe Line Company, LLC (Transco) is looking for approval of the Gateway Expansion Project from the Federal Energy Regulatory Commission (“FERC”).

With the expansion, Transco will be able to fulfill its commitment to supply an incremental 65,000 dekatherms per day of firm transportation capacity to UGI Corporation’s (NYSE:UGI) affiliate UGI Energy Services LLC and utility firm Public Service Enterprise Group Inc.’s (NYSE:PEG) unit — PSEG Power, LLC (“PSEG”).

Notably, the expansion of the project will help utility firms fulfill the mounting natural gas needs of customers in the Northeast during the winters of 2020 to 2021.

Investors should know that the Gateway Expansion development is expected to add 27,500 horsepower of electric motor at the New Jersey compressor station of Transco. The project also calls for upgradation of two meter stations of Transco. The partnership added that the Gateway Expansion development will provide customers with cost-effective clean energy, significantly reducing the emission of carbon dioxide.

All those efforts reflect the partnership’s focus on the expansion of the Transco pipeline system that will provide stable fee-based revenues.

Tulsa, OK-based Williams Partners is a publicly traded master limited partnership whose natural gas infrastructure assets comprise pipelines that spread over more than 33,000 miles.

However, year to date, the partnership lost 7.9%, underperforming the 5.2% decline of the industry.

Presently, Williams Partners carries a Zacks Rank #3 (Hold), signifying that the stock will perform in line with the broader U.S. equity market over the next one to three months.

A better-ranked player in the energy space is ExxonMobil Corp. (NYSE:XOM) . The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Headquartered in Irving, TX, ExxonMobil is the largest publicly traded energy firm. The company managed to beat the Zacks Consensus Estimate in three of the last four quarters, the average earnings surprise being 8.81%.

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